In our digital age there is extraordinary technology that improves our lives, increases our productivity and makes it easy to access information on just about anything. But there’s also a serious risk for cybercriminals to leverage our dependence on technology for financial gain.
Earlier this year, I read a frightening article in Forbes in which IBM President Ginni Rometty said, “Cybercrime may be the greatest threat to every company in the world.”
She’d get no argument from Yahoo, which, as most of you now know, has revealed that it’s been victimized by hackers and that hundreds of millions of customer accounts have been compromised. Other companies that have been through this, such as Target, Home Depot and too many other firms to mention, probably would agree as well.
The Forbes article also said current losses to business at the hands of cybercriminals lands between $400 billion and $500 billion per year, which from my perspective is mind-blowing. Even more astonishing is the prediction from Juniper Research, an analyst firm in the mobile and digital tech sector, that losses globally may grow to over $2 trillion by 2019.